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$2.2 Billion Loan: CSOs back FG’s request for funds as a necessity for development
…laud Tinubu’s administration for judicious application of resources.
The Centre for Social Justice, Equity, and Transparency (CESJET) has backed Federal Government’s request to borrow $2.2 billion to capital projects.
The Convener of the Group, Emeka Theodore while addressing journalists on Thursday in Abuja, said the funds are essential to the advancement of revenue-generating plans and institutional improvements.
He said rejecting this proposal is not a sincere concern for the national interest; rather, it is populist posturing that goes against logic and same reasoning.
“We are gathered here today, to discuss a matter of vital importance to the development and prosperity of our country: the Federal Government’s planned loan request of $2.2 billion. This initiative has seen a lot of pushback in recent weeks, most of it being misguided and uninformed.
“Evidently, it is important to understand that the oppositions to the borrowing plan is obviously unwarranted and counterproductive to Nigeria’s development. In Setting the record straight, it requires us to address the baseless complaints made of this loan while emphasizing its benefits and justification it would do to our great country”, he said.
Theodore noted that Nigeria is one of the few countries that have continuously fulfilled its financial commitments to foreign creditors.
“Through a strategic and structural plan in executing loan servicing, the President Tinubu led-administration has maintained repayment schedules and built confidence with foreign lenders.
“For example, income generating reforms have been used to carefully control the 2023 debt service-to-revenue ratio, despite the fact that it is still worrisome.
“It is noteworthy stating that fulfilling these responsibilities has not only maintained Nigeria’s reputation, but it has also increased foreign financial institutions’ trust in our capacity to carefully manage borrowed money. Nigeria continues to benefit from favorable rates on development funding and concessional loans because of this confidence”, he stated.
He reminded critics of the loan that the money collected in the past have been used for important development initiatives, infrastructure growth, and institutional changes.
CESJET further noted that the judicious use of borrowed monies to promote economic growth and address infrastructure deficiencies is demonstrated in projects like the Second Niger Bridge, the Lagos-Ibadan railway, and the ongoing Mambilla Hydropower Project.
“ This proposed $2.2 billion loan is no unusual; its goal is to fund vital industries that would help Nigerians in the long run”, the group said.
“In dispelling the myth on the borrowing-to-federal budget ratio, we wish to state categorically that, Nigeria’s borrowing plans are clearly in line with international best practices and do not impose an excessive cost.
“For example, a fiscal deficit of about ₦8 trillion is expected in the 2025 budget, which is estimated to be around ₦34 trillion. A manageable portion of current budget, the $2.2 billion loan fits the government’s fiscal policy to strike a balance between development requirements and long-term financial viability.
“Comparatively, the International Monetary Fund (IMF) recommends that developing economies have a debt-to-GDP ratio of not more than 55%. Nigeria’s debt ratio of about 35% puts the country in a better situation than that of other African peers, such as Ghana and Kenya, whose debt ratios are more than 60%. Nigeria has the financial capacity to borrow responsibly, as these numbers demonstrate.
“However, some critics have attempted to sabotage this important project. It is depressing to observe that their ideas frequently lack basic economic reasoning and instead rely on populist hyperbole. To propagate false information, some organizations have been enlisted to paint Nigeria’s borrowing as irresponsible and unsustainable.
“These organizations lack a thorough grasp of the economic forces at work and are frequently supported by anti-progress elements. 9. Opposing politicians should give up their populist stance and accept the realities of government for the benefit of the country.
“It will be in the good interest of the Nation for opposing lawmakers to abandon their populist approach and embrace the realities of governance. Clearly, their opposition runs the risk of sabotaging Nigeria’s growth, delaying the country’s advancement and leaving important projects underfunded.
“It is crucial to emphasize that denying the loan request will have disastrous effects on ongoing programs and projects. If the necessary funding is not obtained, infrastructure development, healthcare expansion, and educational changes might all be shelved. In addition to being a waste of money, abandoned projects often represent missed chances for economic diversification, job growth, and higher living standards.
“For example, lowering transportation costs and boosting regional trade depend on the completion of ongoing rail projects. The provision of sufficient money is critical to the viability of these projects. Therefore, the $2.2 billion loan is essential to securing Nigeria’s future and advancing its economic program, and not to be seen as a luxury, which a misguided thought and speculations occupying the mind of many.
“Cases just like the Investments in digital technologies and infrastructure, would increase the effectiveness of tax collection, diversifying Nigeria’s revenue streams and lowering its need on oil earnings. Likewise, financing agricultural changes will increase output, guaranteeing food security and boosting exports. The government intends to use a portion of the loan for mechanized farming and irrigation projects, which will greatly increase agricultural productivity, provide employment, and promote rural development.
“This said loan is an additional source to strengthen diverse empowerment, and further upgrade many of our sectors in maintaining their global reputation amongst other nations. It is clear that the loan is more than just a financial tool; it is a driving force behind revolutionary change in several important economic sectors.
“Additionally, President Tinubu led-administration continuous initiatives to increase non-oil earnings and diversify the economy would strengthen Nigeria’s ability to service its debt in no time unlike when the country was solely dependent on revenues from oil for its mega operations. These actions demonstrate the government’s dedication to fiscal restraint and judicious borrowing.
“Evidently, public support is crucial for the successful implementation of development projects. By highlighting the benefits of the proposed loan and addressing concerns transparently, we can build consensus and ensure the smooth passage of the loan request by the National Assembly (NASS).
“In conclusion, the $2.2 billion loan proposal is clearly a necessity for Nigeria’s progress. Rejecting this proposal would be self-defeating, compromising current initiatives and endangering the future of the country. In light of this, we urge National Assembly members to put the interests of the country above populist digressions. A better future for all Nigerians is at stake when the loan is approved; it is not just an economic choice, but a mission to save generations”, the group added.
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‘Ombugadu Is a Brand, Not a Title’ — PDP Chieftain
By Emmanuel Kuza
A chieftain of the Peoples Democratic Party (PDP) in Nasarawa State, Abuga Ovie, has described the name Ombugadu as a political brand, saying the popularity and wide acceptance of the name have made David Emmanuel Ombugadu a major force in the state’s political landscape.
Ovie, who stated this in an interview on Tuesday, said what started as opposition from some of Ombugadu’s biological brothers and people he described as fathers and uncles who betrayed him for personal political interests had now assumed a wider dimension, with political parties allegedly joining the battle against him.
According to him, the latest development was an attempt to undermine the political value of the Ombugadu name by presenting another person with the same surname, describing it as an indication of how far some political actors were prepared to go to weaken the PDP governorship candidate.
“Ombugadu is a brand, not a title. The people are not fools. They know their own. You cannot simply bring another person bearing the same name and expect the people to forget the political identity that Ombugadu has built over the years,” he said.
He further alleged that a former governor was working to introduce a political associate who had served as Accountant-General of Nasarawa State into the political equation, with the alleged objective of destabilising the PDP and weakening its chances by ensuring that the party fields a less competitive candidate in 2027.
“The plan, as we understand it, is to destabilise the PDP and make sure the party presents a weak candidate, thereby creating an advantage for the former governor’s preferred candidate. But all those efforts have proved abortive because the national leadership of the PDP stood its ground and refused to lose its best bet for the 2027 governorship election,” Ovie said.
The PDP chieftain said the resolve of the national leadership to retain Ombugadu had demonstrated the confidence the party had in his capacity to win the governorship election, despite what he described as attempts by some political actors to frustrate his ambition.
Ovie urged political parties and their leaders to resolve their internal differences instead of concentrating their efforts on Ombugadu, whom he compared to David in the Bible, saying he remained focused despite betrayal and opposition from those close to him.
“Ombugadu is like David in the Bible. Even when his brothers forsook him, he remained focused. Today, despite the people who have betrayed him, he remains focused and has a blueprint that can rescue Nasarawa State,” he said.
He said political parties should concentrate on presenting their programmes and convincing voters about how they intend to address the challenges confronting the state rather than expending their energy on attempts to stop Ombugadu.
“Political parties should fix their problems instead of wasting their strength fighting Ombugadu. Let everybody bring their blueprint before the people and explain what they intend to do for Nasarawa State,” he said.
Ovie maintained that the 2027 election should be about ideas, competence and the future of Nasarawa State, rather than attempts to manipulate political structures or undermine individuals perceived to enjoy strong grassroots support.
He urged the people of the state, particularly the Eggon community, to remain politically vigilant and resist what he described as efforts to make them settle for less, insisting that voters would ultimately determine who enjoys their confidence at the polls.
Reduce repeated references to Ombugadu
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200 widows benefit from empowerment outreach in Plateau
By Israel Adamu, Jos
Two hundred widows from communities across Langtang North Central State Constituency of Plateau State have benefited from an empowerment outreach organised by Gimbiya Gani Nandir Lar under the Jagoran Talakawa movement.
The outreach, held at Pilgani in Langtang North Local Government Area, was aimed at supporting vulnerable women and drawing attention to the challenges faced by widows, particularly those struggling to provide food, pay school fees and meet other basic needs for their families.
The organiser, Nandir Lar, who is the All Progressives Congress, APC, candidate for Langtang North Central State Constituency, said the gesture was motivated by compassion and concern for vulnerable members of the society.
She stressed that the outreach was not a political programme but an expression of love and support for humanity.
Nandir Lar said: “The plight of widows may not always make headlines, but their struggles are real, painful and deserving of our collective attention.
“This is simply an expression of compassion and love for humanity. It is not a political programme.
“Our constituency is home to people with diverse needs, including mothers, widows and young people who are seeking opportunities to improve their lives.”
Former Provost of the Federal College of Education, Pankshin, Amos Chirfat, commended the initiative, saying it had brought smiles to the faces of vulnerable women in the constituency.
Minority Leader of the Langtang North Legislative Council, Dirya Sheni, also commended Nandir Lar for supporting widows and other vulnerable members of the community.
At the end of the outreach, each of the 200 beneficiaries received a 10-kilogramme bag of corn flour, seasoning and N10,000 cash
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SCUML, REDAN Strengthen Collaboration on Anti -Money Laundering Compliance
By Francis Wilfred
The Special Control Unit against Money Laundering (SCUML), and the Real Estate Developers Association of Nigeria (REDAN) have expressed commitment to ensure a full compliance with the Anti Money Laundering/Counter Finance on Terrorism/Counter Proliferation Financing, (AML/CFT/CPF) laws within the Nigeria’s real estate sector.
They made the resolve during a stakeholders’ engagement held on Thursday, September 10, 2026
The engagement focused on Mutual Evaluation readiness, risk-based supervision, beneficial ownership transparency, customer due diligence, internal controls and stronger collaboration between SCUML and the real estate sector.
Assistant Commander of the EFCC, ACE 1 Ibinabo Amachree, speaking on behalf of SCUML highlighted the strategic role of real estate operators in protecting the integrity of Nigeria’s financial system, particularly given the sector’s vulnerability to money laundering and other financial crime risks.
Amachree encouraged REDAN members to move beyond registration to ensure that compliance is embedded in their day-to-day operations. He mentioned the areas to include: understanding institutional risks, knowing customers and beneficial owners, identifying politically exposed persons, conducting appropriate sanctions screening, maintaining effective internal controls and meeting applicable reporting obligations
He, therefore, reaffirmed readiness to working closely with REDAN and other stakeholders to improve compliance, build capacity and promote a stronger culture of accountability across the real estate sector
“The message is clear: effective compliance is not just about meeting regulatory requirements; it is about protecting businesses, strengthening the real estate sector and safeguarding the integrity of Nigeria’s financial system”, she said.
In his remarks, the Chairman of REDAN, Lagos state, Mr Tony Kolawole pledged readiness to partner with SCUML in ensuring compliance with AML/CFT/CPF in the real estate sector to uphold financial integrity.
The engagement also provided an opportunity for REDAN members to share practical regulatory and operational challenges affecting the sector, reinforcing the importance of continuous dialogue between regulators and industry stakeholders.
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